Screen LibraryUncertainty in Economics : A New Approach /
In this book the author develops a new approach to uncertainty in economics, which calls for a fundamental change in the methodology of economics. It provides a comprehensive overview and critical appraisal of the economic theory of uncertainty and shows that uncertainty was originally conceptualize...
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| Main Authors: | |
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| Corporate Authors: | |
| Published: |
Springer International Publishing : Imprint: Springer,
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| Publisher Address: | Cham : |
| Publication Dates: | 2017. |
| Literature type: | eBook |
| Language: | English |
| Series: |
Contributions to economics, 1431-1933 |
| Subjects: | |
| Online Access: |
http://dx.doi.org/10.1007/978-3-319-55351-1 |
| Summary: |
In this book the author develops a new approach to uncertainty in economics, which calls for a fundamental change in the methodology of economics. It provides a comprehensive overview and critical appraisal of the economic theory of uncertainty and shows that uncertainty was originally conceptualized both as an epistemic and an ontological problem. As a result of the economic professions attempt to become acknowledged as a science, the more problematic aspect of ontological uncertainty has been neglected and the subjective probability approach to uncertainty became dominant in economic theory. A careful analysis of ontological theories of uncertainty explains the blindness of modern economics to economic phenomena such as instability, slumps or excessive booms. Based on these findings the author develops a new approach that legitimizes a New Uncertainty Paradigm in economics. |
| Carrier Form: | 1 online resource (IX, 199 pages): illustrations. |
| ISBN: | 9783319553511 |
| CLC: | F091.3 |
| Contents: | Part I: Uncertainty in economic thought -- Uncertainty in the history of economic thought -- Truth, probability and uncertainty -- The principles of economics -- Probability and neoclassical uncertainty -- Part II: Philosophies of uncertainty -- The origin of the profit -- Uncertainty and economic instability.-The division of knowledge and unknowledge -- The nature of economics -- Part III: Methodology of uncertainty -- Extending the boundaries of economics -- Uncertainty and fiction -- Human after all. . |